Braze (BRZE) financial statements
Braze reported revenue of $738M in fiscal 2026, up 40.4% a year over 6 years.
Net income was -$131M and the operating margin -19.6%, against -34.8% in 2020.
Free cash flow was $58M.
The diluted share count rose 567% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Braze's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | $96M | $150M | $238M | $355M | $472M | $593M | $738M |
| Cost of revenue | $36M | $55M | $79M | $116M | $148M | $183M | $243M |
| Gross profit | $61M | $96M | $160M | $240M | $324M | $410M | $496M |
| Research and development | $20M | $29M | $59M | $97M | $120M | $134M | $167M |
| Selling, general and admin | $74M | $99M | $179M | $290M | $349M | $398M | $473M |
| Operating income | -$34M | -$32M | -$78M | -$148M | -$145M | -$122M | -$145M |
| Pre-tax income | -$31M | -$31M | -$78M | -$140M | -$128M | -$101M | -$128M |
| Income tax | $452,000 | $537,000 | -$165,000 | $583,000 | $2M | $3M | $3M |
| Net income | -$32M | -$32M | -$77M | -$139M | -$129M | -$104M | -$131M |
| EPS (diluted) | -$1.96 | -$1.77 | -$2.20 | -$1.47 | -$1.32 | -$1.02 | -$1.22 |
| Diluted shares | 16M | 18M | 35M | 95M | 98M | 102M | 108M |
| Gross margin | 63.0% | 63.7% | 67.0% | 67.4% | 68.7% | 69.1% | 67.1% |
| Operating margin | -34.8% | -21.4% | -32.9% | -41.7% | -30.7% | -20.6% | -19.6% |
| Net margin | -33.0% | -21.1% | -32.2% | -39.1% | -27.4% | -17.5% | -17.8% |
Balance sheet
Fiscal years, from Braze's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $12M | $87M | $514M | $69M | $68M | $83M | $124M |
| Receivables | — | $35M | $65M | $78M | $92M | $95M | $122M |
| Total current assets | — | $134M | $608M | $583M | $601M | $644M | $568M |
| Property, plant and equipment | — | $5M | $7M | $20M | $29M | $39M | $44M |
| Goodwill | — | — | — | $0 | $28M | $28M | $262M |
| Total assets | — | $171M | $666M | $705M | $811M | $871M | $1.1B |
| Total current liabilities | — | $101M | $160M | $217M | $289M | $324M | $420M |
| Total liabilities | — | $103M | $161M | $259M | $367M | $396M | $490M |
| Shareholders' equity | -$87M | -$109M | $502M | $445M | $444M | $475M | $624M |
| Net debt | -$12M | -$29M | -$479M | -$69M | -$68M | -$83M | -$124M |
Cash flow
Fiscal years, from Braze's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$7M | -$6M | -$35M | -$22M | $7M | $37M | $71M |
| Capital spending | $3M | $4M | $4M | $17M | $13M | $17M | $13M |
| Free cash flow | -$10M | -$10M | -$40M | -$39M | -$6M | $20M | $58M |
| Stock-based compensation | $12M | $8M | $47M | $72M | $97M | $115M | $144M |
| Share buybacks (net) | $0 | -$204,000 | $0 | $0 | -$165,000 | — | — |
| Free cash flow margin | -10.3% | -6.9% | -16.7% | -11.0% | -1.4% | 3.3% | 7.9% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for BRZE.
Open BRZE in InvestinglyQuestions
What was Braze's revenue in 2026?
$738M in fiscal 2026, from its 10-K filing.
How much free cash flow does Braze generate?
$58M in fiscal 2026 (operating cash flow minus capital spending).
From Braze's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.